Easier overseas listing

Move will remove a major bottleneck for start-ups, MSMEs

The Ministry of Corporate Affairs is reported to be finalising the rules for Indian companies to list overseas. Seven nations — the US, the UK, South Korea, Japan, France, Germany, and Canada, all of which have high standards of financial regulation — will be put on a permitted list, and Indian companies can list either by issuing fresh shares, or by selling existing shares. The International Financial Services Centres Authority’s (IFSCA’s) Gujarat International Finance Tec (GIFT) City will also be treated like an overseas jurisdiction in this regard. These companies will not be required to have a secondary India listing.